DCBL said that the Enforcement Directorate’s order has no impact on its day-to-day business activities
The accident occurred at Dalmia Bharat's integrated cement and captive power plant at Rajgangpur, Odisha
Dalmia Cement is the fourth largest cement maker of the country. It operates a manufacturing capacity of 44.6 MTPA, across 15 cement plants and grinding units in 10 states.
Jaiprakash Associates has entered an agreement with Dalmia Cement for the sale of JP Super. The asset, however, is in arbitration between the previous buyer UltraTech and Jaiprakash Associates over the failure of a redemption linked to the JP Super deal.
The investment is expected to generate 2,500 employment opportunities in the state.
The decision is in line with the company's "strategy to exit non-core business", and was pursuant to the approval given by the board of directors of Dalmia Bharat, the parent entity.
Under the pact, Vedanta's mega aluminium smelter at Jharsuguda, Odisha will supply around 20 rakes of fly ash every month for five years to Dalmia Cement's manufacturing units in Odisha, Chhattisgarh, Meghalaya, and Assam, and spent pot lining (SPL) for three years to the company's plant at Rajgangpur, Odisha.
Under its green logistics strategy for the decarbonisation of its transportation fleet, Dalmia Cement plans to transition 300 trucks to LNG by end of FY24, according to a statement.
The investigations arm of the Competition Commission of India (CCI) has held top leadership – CEOs or Managing Directors – of Holcim units ACC and Ambuja, market leader UltraTech and 17 other firms such as Shree Cement and Dalmia Cement liable for antitrust violations.
The company would set up two greenfield grinding units with a capacity of producing two million tonne per annum each, regional director of the cement-maker Sunil Aggarwal said.
Mauritius-based GuarantCo had moved the National Company Law Tribunal (NCLT), claiming that Calcom -- in which Dalmia Cement holds 75-per cent stake -- failed to repay dues of around Rs 100 crore.
The cement major plans to identify multiple utilisation streams for the Co2 that is captured from this large-scale plant, including direct sale for use in other industries and manufacture of chemicals
Singhi takes over from the outgoing President Shailendra Chouksey.
Stating that evaluation criteria were made known to all before the bids, Dalmia Cement Bharat Group CEO Mahendra Singhi said no evidence has been cited to show that the CoC (Committee of Creditors) and its advisors did not make a correct assessment of bids.
Cement companies such as Star Cement, Dalmia Cement and Topcem Cement have made this reduction in cement prices effective from July 1, the release quoting the cement majors, said.
Yogesh Mehta of Motilal Oswal suggests buying Power Grid, NMDC and Dalmia Cement.
In a special chat with CNBC-TV18‘s Shereen Bhan, Ajay Piramal, Chairman, Piramal Enterprises said it was yet too early to comment on whether they would be acquiring Lafarge's India cement business.
Dalmia Cement has withdrawn the appeal filed before the competition tribunal against transfer of Lafarge's assets as approved by the Competition Commission, clearing the way for the merger of Lafarge and Holcim in India.
The Competition Appellate Tribunal's (Compat) decision has come on a petition filed by Dalmia Cement (Bharat) Ltd against a CCI order on the matter.
This is seen as a victory for Dalmia Cement which had challenged the sale process.
Supplified.com, founded by Goel along with SPR Buildtech Director Nalin Saluja, started its operations a few months ago aiming to tap huge opportunity in the unorganised construction materials market.
"The fact that the new age customer is younger, internet-savvy, and is willing to pay for standardisation and quality, makes this business even more exciting for us," Buildzar.com Co-Founder, Chief Executive and MD Vineet Singh said.
In 2008 Young Turks, Puneet Dalmia, Managing Director of Dalmia Cement had been an inspiration to several young entrepreneurs. He is now on a mission to conquer Mount Everest. He wants to take the group revenues to over USD 10 billion by 2015.